2019 (7) TMI 1727 - SCH - Insolvency and Bankruptcy

Attachment of properties - release of attached assets of the Corporate Debtor - overriding effect of IBC over PMLA - declaration of Moratorium for prohibiting some of the action - the decision in the case of VARRSANA ISPAT LTD. VERSUS DEPUTY DIRECTOR, DIRECTORATE OF ENFORCEMENT 2019 (5) TMI 1468 - NATIONAL COMPANY LAW APPELLATE TRIBUNAL NEW DELHI challenged where it was held that As the Prevention of Money Laundering Act, 2002 relates to different fields of penal action of proceeds of crime , it invokes simultaneously with the I B Code , having no overriding effect of one Act over the other including the I B Code , there are no merits in this appeal. HELD THAT - Impugned Order upheld - appeal dismissed.

Summary

The Supreme Court of India dismissed the appeal and declined to interfere with the impugned order passed by the Tribunal. Pending interlocutory application(s) were disposed of. (2019 (7) TMI 1727 - SC)